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Curious to get thoughts on the two. Comps / WLB / culture / performance / biz school placement. Old thread is a bit dated.
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What ab permira / eqt / cvc as well as apax/bc
EQT just closed a $15b fund. Dunno about the others but I remembered reading that so at least fundraising isn’t a problem there
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BC has struggled to fundraise recently which is an indicator of performance. Something to consider
Interested on this… of course that seems likely and plausible… but looking at their last few funds, returns don't seem all that bad. By no means first quartile, but definitely stable right in the second quartile/better third quartile area at worst. Definitely a mix of being not top quartile and terrible fundraising environment, just not sure on the balance of those two factors.Also to note, maybe aside from a few (EQT, etc), I heard the fundraising environment for Euro buyout firms has been significantly more difficult than for US firms. Overall must seems just like a handful of headwinds (some being BC partners, others being external and somewhat uncontrollable).
BC was raising when everything was still going well and people were done in weeks / a few months. Part of the problem is that their returns are super concentrated in Chewy and hence replicability/sustainability of returns is a question
Nordic's fundraise seems to be going pretty well
Worth mentioning too that Nordic is one of the few savvy LBO shops that actually understands the life sci space, specifically spec pharma. Huge margins there if a buyer can find the right company with defensible assets against genericization and correctly invest capital into lifecycle management for existing commercial assets to extend the IP cliffs. I don't know a lick about their performance historically but can say confidently that they've had great success with that space and delivered excellent returns with their spec pharma plays so if that influenced anything on their fundraise, I wouldn't be surprised.
Any insight on comp/WLB?
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